Interim report 1 September 2010 – 31 May 2011

Regulatory RNB

Third quarter, March 1, 2011 – May 31, 2011

  • Net sales totaled SEK 675 M (731), down 7.6 percent. The negative impact from the divested operations at Steen & Ström department store is -1.1 percent. Sales in comparable proprietary stores declined 6.4%.
  • Write-down of goodwill and JC-trademark have been made with gross SEK 431 M, net after deferred taxes SEK 368 M.
  • Provisions have been made for obsolescence in inventory with 58 MSEK, and for doubtful receivables with 14 MSEK.
  • The operating result declined with SEK 108 M to SEK -102 M (6) excluding write-down of goodwill and JC-trademark with SEK 431 M.
  • The profit before tax amounted to SEK -105 M (4) excluding write-down of goodwill and JC-trademark with SEK 431 M. Unrealized results on currency futures affected the quarter negatively with SEK 3M (3).  
  • Profit after tax amounted to SEK -452 M (16), corresponding to a profit per share of SEK -2.73 (0.10). Profit after tax includes a write-down of goodwill and JC-trademark with SEK 368 M.
  • Cash flow from operating activities amounted to SEK -47 M (-12).

The interim-report period, September 1, 2010 – May 31, 2011

  • Net sales totaled SEK 2 235 M (2 296), down 2.7 percent. The negative impact from the divested operations at Steen & Ström department store is -3.0 percent. Sales in comparable proprietary stores increased 0.1 percent.
  • Write-down of goodwill and JC-trademark have been made with gross SEK 431 M, net after deferred taxes SEK 368 M.
  • Provisions have been made for obsolescence in inventory with 58 MSEK, and for doubtful receivables with 14 MSEK.
  • The operating result decreased with SEK 87 M, excluding write-down of goodwill and JC-trademark with SEK 431 M, and amounted to    SEK -44 M (43).
  • The profit before tax amounted to SEK -72 M (34) excluding write-down of goodwill and JC-trademark with SEK 431 M. Unrealized results on currency futures affected the quarter negatively with SEK -5 M (9).
  • The profit after tax amounted to SEK -428 M (38), corresponding to a profit per share of SEK -2,58 (0.24). Profit after tax includes a write-down of goodwill and JC-trademark with SEK 368 M.
  • Cash flow from operating activities amounted to SEK-67 M (72).

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